The macroeconomic impacts of Chinese currency appreciation on China and the rest of world: A global computable general equilibrium analysis
| cg.authorship.types | CGIAR single centre | en |
| cg.coverage.country | China | |
| cg.coverage.iso3166-alpha2 | CN | |
| cg.coverage.region | Asia | |
| cg.coverage.region | Eastern Asia | |
| cg.creator.identifier | Simla Tokgoz: 0000-0002-9358-0491 | |
| cg.creator.identifier | Wei Zhang: 0000-0002-2933-6275 | |
| cg.identifier.project | IFPRI - Environment and Production Technology Division | |
| cg.identifier.publicationRank | Not ranked | |
| cg.number | 1178 | en |
| cg.place | Washington, DC | en |
| cg.reviewStatus | Internal Review | en |
| dc.contributor.author | Yang, Jun | en |
| dc.contributor.author | Zhang, Wei | en |
| dc.contributor.author | Tokgoz, Simla | en |
| dc.date.accessioned | 2024-10-01T13:58:01Z | en |
| dc.date.available | 2024-10-01T13:58:01Z | en |
| dc.identifier.uri | https://hdl.handle.net/10568/153856 | |
| dc.title | The macroeconomic impacts of Chinese currency appreciation on China and the rest of world: A global computable general equilibrium analysis | en |
| dcterms.abstract | There has been contentious debate surrounding the issue of undervaluation of the Chinese Renminbi. Despite continuous international political pressure to appreciate its currency, the Chinese government has resisted significant changes. A key question underlining the debate is whether a Renminbi appreciation would deliver substantial gains for exports and employment as the United States has argued or a significant slowdown of Chinese economy as feared by the Chinese government, and if so to what extent. This paper analyzes the ex-ante, short-term impacts of the Chinese Renminbi appreciation on the Chinese and world economies using the novel approach of modeling nominal exchange rate adjustment in the Global Trade Analysis Project, a global computable general equilibrium model. Scenario results show that the Chinese economy will be affected negatively, with lower real gross domestic product, lower employment rates, and a decline in the trade surplus. Chinese currency appreciation has a positive impact on the GDP of the major countries and regions, but by a small margin. With a higher Chinese exchange rate, trade balances for other trading partner countries, with the exception of the United States, improve. | en |
| dcterms.accessRights | Open Access | |
| dcterms.bibliographicCitation | Yang, Jun; Zhang, Wei; Tokgoz, Simla. 2012. The macroeconomic impacts of Chinese currency appreciation on China and the rest of world: A global computable general equilibrium analysis. IFPRI Discussion Paper 1178. Washington, DC: International Food Policy Research Institute (IFPRI). https://hdl.handle.net/10568/153856 | en |
| dcterms.extent | 18 p. | en |
| dcterms.isPartOf | IFPRI Discussion Paper | en |
| dcterms.issued | 2012 | |
| dcterms.language | en | |
| dcterms.publisher | International Food Policy Research Institute | en |
| dcterms.replaces | https://ebrary.ifpri.org/digital/collection/p15738coll2/id/126904 | en |
| dcterms.subject | computable general equilibrium models | en |
| dcterms.subject | exchange rate | en |
| dcterms.subject | economic impact | en |
| dcterms.subject | currencies | en |
| dcterms.type | Working Paper |
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